USA Today: Minnesota student debt is “out of control”

I’ve already covered Minnesota’s status as a high-debt state for students, but just FYI USA Today has it in its list of eight states where student debt is out of control.

Here’s what the paper has to say about us:

3. Minnesota

The bronze medal goes to Minnesota, the home of the Golden Gophers. The average graduate who isn’t debt-free owes $29,793 to the bank. If you’re looking for an option other than Walden or Capella universities in the state, you can try Carleton College; either way, it seems like there’s no way to avoid tacking on extra debt if you’re bound for the North Star State out of high school.

The most indebted state is New Hampshire, whose average student debt of $32,440 makes it the only state to break the $30,000 mark — for now, at least. (And #2 Pennsylvania is virtually at that threshold.)

As I mentioned last year, the list is dominated by the Northeast and Midwest.

  • Matthew Lust

    The better questions about this article are:
    1) why are there only three schools mentioned for Minnesota?
    2) why are they all private
    3) why are two of them for profit.

  • GettaLife

    Profit schools are the highest priced = higher student debt. Private schools do not get same funding, and are higher priced = higher student debt.
    Do you really want him to compare every single school on this blog, or a sample of the most controversial/highest debt?
    I would say the moral here is….check out and compare schools before you sign your name to loan.

    • Zeke

      Agreed, and I would go beyond just comparing price tags. Graduation rate and career outcomes (if that is your goal) will determine whether or not you can pay back your loan.